Yue Ying: 3.10 Bitcoin and Ethereum Market Analysis - Returning to the Range-Bound Structure, When Will the Volatility End?
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Technical Analysis of Bitcoin ————
Looking at the daily chart of Bitcoin, after four consecutive bearish candles, the price opened higher today, testing and breaking through the middle band. The Bollinger Bands continue to narrow and flatten. The short-term moving average is around the middle band, and the MACD fast and slow lines are extending upward with the histogram turning red again. The KDJ is crossing downward with signs of a turn. The VR indicator is consolidating near the 70 level.
On the 4-hour chart, the price was resisted around 74,000 and tested the range center again, finding support and rebounding with consecutive bullish candles. The Bollinger Bands are moving downward and narrowing, indicating a tightening. The short-term moving average is turning downward, and the MACD lines have fallen below zero and crossed upward, with the histogram turning red and increasing. The KDJ is extending upward, with resistance near 100. The VR indicator is consolidating around 60.
Overall, after breaking above the range top, the price did not extend further but returned to the range. The short-term strategy is to treat the market as range-bound. However, Yue Ying believes that although this time the previous structure was not completely broken, the sideways pattern won't last too long, so be prepared for a potential change in trend at any time. Watch for resistance around 71,000, followed by the previous high. Support is around 65,500. Short-term trading suggestions.
Bitcoin Short-term Trading Advice: Short at 70,800, Long at 66,600 (Activate strategy if profitable, trade at your own risk)
Yitai Technical Analysis ————
Yitai's technical outlook is linked to Bitcoin's, with a similar structure. Maintain a range-bound approach; once broken, wait for a new adjustment. Resistance is around 2,150, support around 1,900. Note that if it breaks above the range top again, the probability of reaching new highs will increase. Short-term trading suggestions.
Yitai Short-term Trading Advice: Short at 2,125, Long at 1,930 (Activate strategy if profitable, trade at your own risk)
—— I am Zhou Yue Ying, a teacher focused on technical analysis. If you have any questions about trading operations or trends, feel free to discuss and learn with me! Let's share insights and profit together! #BTC #ETH
